0x Technicals Look Solid, ZRX Is Up By 9%

At the time of writing, the 0x technicals behind the price of the ZRX token look impressive, and the price of the coin is trading at $0.1541 with a 9% increase on the day. What is also impressive is the fact that ZRX has been gaining in price since yesterday and now arrived at a solid market cap of $98.9 million.

The reality in the coming altcoin news is that many tokens are below their yearly highs now, but we need to face the situation with the coronavirus (COVID-19) spreading all around the world and the markets including stock and bonds which have been declining over the past few weeks. The crisis is here and it is expected for it to be artificially stabilized with the Fed getting new money and inserting them into the market to aid the economy.

When it comes to the 0x technicals and the expected ZRX trading range, the Bollinger Bands indicator (which determines a range based on momentum and volatility over the past two weeks) is now between $0.1431 and $0.2296. The proximity to the bottom of the current ZRX price may make buying an attractive opportunity to many traders interested in trading the range.

There are also increased transactions amongst holders of 0x from yesterday, which is why the 0x technicals are impressive. As the cryptonews now show, this altcoin is not the only one that has been pushing higher in terms of its price.

Taking a look at the richest ZRX wallets, we can see that the top 1,000 ones hold the majority of the token’s money supply. On exchanges, the top 1,000 ZRX wallets hold around 8% of the currency’s money supply. You can follow more updates on the 0x technicals and the ZRX price on Twitter.

In the top 20 cryptocurrencies, we can see that Bitcoin (BTC) is among the winners on the day with 15% in gains, followed by Tezos (XTZ) which added 15% as well to arrive to a new price at $1.74. There is also Bitcoin SV (BSV) which gained 13% overnight to stabilize at $178, as well as Chainlink (LINK) which is now at $2.33 after a 14% increase.

If this positive trend continues, we will probably see the 0x technicals growing even more and coming to new monthly highs.